Oil futures settled higher on Friday for a fourth session in a row, at their highest since mid-September, ahead of the latest weekly data on U.S. petroleum supplies.
The American Petroleum Institute will release its report late Tuesday, with the Energy Information Administration's figures due Wednesday morning. Analysts expect the EIA to report a decline of 2.5 million barrels, on average, in U.S. crude-oil inventories for the week ended Dec. 13, according to a survey conducted by S&P Global Platts.
They also forecast supply increases of 2.4 million barrels for gasoline and 600,000 barrels for distillates.
Ahead of the data, January West Texas Intermediate oil rose 73 cents, or 1.2%, to settle at $60.94 a barrel on the New York Mercantile Exchange.
Source : MarketWatch